Succession planning is an important aspect of ensuring the long-term stability and prosperity of a business. According to Sigma Assessment Systems, Inc., the risk of not having a succession plan is apparent to about 60% of business leaders it surveyed in 2022. It is...
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Indianapolis, Indiana Legal Blog
How to approach estate plan discussions with your parents
To begin conversations about estate planning with your aging parents can feel daunting and overwhelming. After all, you want your parents to know that you come from a place of love rather than greed. Conversations about estate plans should remain open and respectful....
4 benefits of a special needs trust
If you have a child or other loved one with special needs, your long-term planning should account for that. A special needs trust allows families to provide for a disabled loved one's future well-being while maintaining their eligibility for needs-based government...
3 ways prenups can protect children’s inheritance rights
Many people get married when they have children from previous relationships or marriages. A prenuptial agreement in Indiana can protect the inheritance rights of children from these prior marriages. Prenuptial agreements can outline the distribution of assets,...
Why should young adults have a will?
As a young adult navigating the journey into independence, the thought of drafting a will may seem like a task reserved for later stages of life. However, thinking about your mortality and considering the importance of estate planning can help you. While the concept...
What does it mean to reorganize a business in bankruptcy?
If your business is facing tough financial times due to mounting debt and a lack of cash flow, you may wonder what you can do to pull your enterprise back from the brink. Companies in financial turmoil might turn to reorganization through the Chapter 11 bankruptcy...
Common mistakes new business owners can avoid
Launching a new business for the first time brings a flurry of decisions and new situations. In the process, many new business owners make mistakes that can hinder their success. Understanding some of the most common errors that business owners make might help you...
Questions to ask before you lease your land to solar companies
The U.S. Energy Information Administration reported that there are over 5,000 solar farms in the United States. As renewable energy gains momentum, many landowners find themselves approached by solar companies looking to lease land for solar installations. This...
How does a life insurance trust work?
Taking out a life insurance policy is one way to provide for your loved ones after you die. However, you may worry about dying before your children are old enough to handle the insurance payout. Creating a life insurance trust could be the answer to this dilemma. A...
How buying or leasing equipment can benefit a business
If you own a small business, figuring out how to successfully expand your operation is likely one of your top concerns. While obtaining equipment, inventory or assets can help your company, you should also understand how to best go about your acquisition. Buying your...